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The following is issued on behalf of the Hong Kong Monetary Authority:
The Hong Kong Monetary Authority (HKMA) announced the results of the residential mortgage survey for January 2015.
The number of mortgage applications in January 2015 increased month-on-month by 22.8% to 13,608.
Mortgage loans approved in January 2015 increased by 21.4% compared with December 2014 to HK$30.3 billion. Among these, mortgage loans financing primary market transactions increased by 43.7% to HK$7.9 billion and those financing secondary market transactions increased by 18.1% to HK$17.8 billion. Mortgage loans for refinancing increased by 4.6% to HK$4.6 billion.
Mortgage loans drawn down during January 2015 decreased by 2.7% compared with December 2014 to HK$21.3 billion.
New mortgage loans priced with reference to best lending rates decreased from 13.5% in December 2014 to 13.3% in January 2015 with majority priced within the range of 2% and 2.25%. New mortgage loans priced with reference to HIBOR decreased from 84.5% in December 2014 to 84% in January 2015.
The outstanding value of mortgage loans increased month-on-month by 0.9% to HK$993.1 billion at end-January 2015.
The mortgage delinquency ratio remained unchanged at 0.03% and the rescheduled loan ratio remained unchanged at nearly 0%.
Ends/Friday, February 27, 2015
Issued at HKT 16:34
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